(a)  The department shall determine the term of each license issued pursuant to this chapter and may issue multi-year licenses with a fee for each year of licensure paid in full at issuance or renewal; provided, however, no license shall remain in force for a period in excess of three (3) years. All licenses shall be issued for the twelve-month (12) period commencing on January 1 of each year, and the fee thereafter shall be at the full, annual rate specified in § 5-38.5-8, regardless of the date of application or issuance of that license.

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Terms Used In Rhode Island General Laws 5-38.5-7

  • Department: means the Rhode Island department of business regulation and the official actions, duties, and responsibilities of its director, deputy directors, employees, or authorized designees. See Rhode Island General Laws 5-38.5-3

(b)  Any fee for the initial issuance or renewal of a license issued pursuant to this chapter shall be determined by multiplying the current annual fee by the term of initial licensure or renewal. The total fee for the entire term of licensure or renewal shall be paid at the time of application for the license or renewal. The license shall be renewed upon payment of the renewal fee.

History of Section.
P.L. 2015, ch. 146, § 1.